Hindustan Aeronautics (HAL)
Buy Near: Rs 2,570
Target: Rs 2,700
Stop Loss: Rs 2,510
Few sessions back; we witnessed a trend line breakout in Hindustan Aeronautics near Rs 2,520 mark. Then after the stock underwent a rally towards Rs 2,750 and post that it retraced back to the extension of that same trend line.
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Now we are witnessing a bullish candlestick pattern on the daily scale which indicates resumption of the rally. Thus, we advise traders to go long in the stock near Rs 2,570 with a stop loss of Rs 2,510.
Buy Near: Rs 350
Target: Rs 370
Stop Loss: Rs 340
Since July 2022; DLF witnessed buying interest whenever it corrected near Rs 340 mark. At this juncture too it is trading near the multiple support zone of Rs 340.
The risk reward looks lucrative for short-term long trade since the stock might bounce towards its 200 DEMA placed near Rs 370. Thus, we advise traders to go long in the stock near Rs 350 with a stop loss of Rs 340.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).